Bill Text: GA HB903 | 2009-2010 | Regular Session | Comm Sub
Bill Title: County and municipal tax levies; fund domed stadium; revise provisions
Spectrum: Partisan Bill (Republican 3-0)
Status: (Passed) 2010-06-03 - Effective Date [HB903 Detail]
Download: Georgia-2009-HB903-Comm_Sub.html
10 HB
903/CSFA
House
Bill 903 (COMMITTEE SUBSTITUTE) (AM)
By:
Representatives Burkhalter of the
50th
and Stephens of the
164th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-13-51 of the Official Code of Georgia Annotated, relating
to county and municipal tax levies on hotels and motels and other public
accommodations, so as to revise provisions relating to a levy at the rate of 7
percent by certain counties and municipalities; to provide that, where such tax
was levied for the purpose of funding a multipurpose domed stadium facility and
is subject to a stated expiration date, the expiration date may be extended
under certain circumstances; to provide for extension for purposes of funding a
successor facility upon certification of certain conditions by a state
authority; to provide for expenditure through a contract with the state
authority; to provide for a new extended expiration date; to provide for the
protection of bondholders; to provide for other related matters; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-13-51 of the Official Code of Georgia Annotated, relating to county
and municipal tax levies on hotels and motels and other public accommodations,
is amended by revising paragraph (5) of subsection (a) as follows:
"(5)(A)(i)
Notwithstanding any other provision of this subsection, a county (within the
territorial limits of the special district located within the county) or
municipality is authorized to levy a tax under this Code section at a rate of 7
percent. A county or municipality levying a tax pursuant to this paragraph
shall expend an amount equal to at least 51.4 percent of the total taxes
collected prior to July 1, 1990, at the rate of 7 percent and an amount equal to
at least 32.14 percent of the total taxes collected on or after July 1, 1990, at
the rate of 7 percent for the purpose of:
(A)
(I)
promoting tourism, conventions, and trade shows;
(B)
(II)
supporting a facility owned or operated by a state authority for convention and
trade show purposes or any other similar or related purposes;
(C)
(III)
supporting a facility owned or operated by a local authority or local government
for convention and trade show purposes or any other similar or related purposes,
if a written agreement to provide such support was in effect on January 1, 1987,
and if such facility is substantially completed and in operation prior to July
1, 1987;
(D)
(IV)
supporting a facility owned or operated by a local government or local authority
for convention and trade show purposes or any other similar or related purposes
if construction of such facility is funded or was funded in whole or in part by
a grant of state funds; or
(E)
(V)
for some combination of such purposes. Amounts so expended shall be expended
only through a contract or contracts with the state, a department of state
government, a state authority, or a private sector nonprofit organization or
through a contract or contracts with some combination of such entities, except
that amounts expended for those purposes specified in
subparagraphs
subdivisions
(C)
(III)
and
(D)
(IV)
of this
paragraph
division
may be so expended in any otherwise lawful manner.
(ii)
In addition to the amounts required to be expended
above
under division
(i) of this subparagraph, a county or
municipality levying a tax pursuant to this paragraph (5) shall further expend
(in each fiscal year during which the tax is collected under this paragraph (5))
an amount equal to 14.3 percent of the total taxes collected prior to July 1,
1990, at the rate of 7 percent and an amount equal to 39.3 percent of the total
taxes collected on or after July 1, 1990, at the rate of 7 percent toward
funding a multipurpose domed stadium facility. Amounts so expended shall be
expended only through a contract originally with the state, a department or
agency of the state, or a state authority or through a contract or contracts
with some combination of the above. Any tax levied pursuant to this paragraph
shall terminate not later than December 31, 2020,
unless
extended as provided in subparagraph (B) of this
paragraph, provided that during any period
during which there remains outstanding any obligation which is incurred prior to
January 1, 1991, issued to fund a multipurpose domed stadium as contemplated by
this paragraph (5), and secured in whole or in part by a pledge of a tax
authorized under this Code section, or any such obligation which is incurred to
refund such an obligation incurred before January 1, 1991, the powers of the
counties and municipalities to impose and distribute the tax imposed by this
paragraph (5) shall not be diminished or impaired by the state and no county or
municipality levying the tax imposed by this paragraph shall cease to levy the
tax in any manner that will impair the interest and rights of the holders of any
such obligation. This proviso shall be for the benefit of the holder of any
such obligation and, upon the issuance of any such obligation by an authority of
the state, shall constitute a contract with the holder of such
obligations.
(B)
Notwithstanding the termination date stated in division (ii) of subparagraph (A)
of this paragraph (5), notwithstanding paragraph (6) of this subsection (a), and
notwithstanding subsection (b) of this Code section, a tax levied under this
paragraph may be extended by resolution of the levying county or municipality
and continue to be collected through December 31, 2050, if a state authority
certifies: (i) that a portion of the proceeds will be used to fund a successor
facility to the multipurpose domed stadium facility funded under division (ii)
of subparagraph (A) of this paragraph; (ii) that such successor facility will be
located on property owned by the state authority; and (iii) that the state
authority has entered into a contract with a national football league team for
use of the successor facility by the national football league team through the
end of the new extended period of the tax collection. During the extended
period of collection provided for in this subparagraph, the county or
municipality levying the tax shall continue to comply with the expenditure
requirements of division (i) of subparagraph (A) of this paragraph. During the
extended period of collection, the county or municipality shall further expend
(in each fiscal year during which the tax is collected during the extended
period of collection) an amount equal to 39.3 percent of the total taxes
collected at the rate of 7 percent toward funding the successor facility
certified by the state authority. Amounts so expended shall be expended only
through a contract with the certifying state authority. Any tax levied pursuant
to this paragraph shall terminate not later than December 31, 2050, provided
that during any period during which there remains outstanding any obligation
which is incurred to fund the successor facility certified by the state
authority, and secured in whole or in part by a pledge of a tax authorized under
this Code section, or any such obligation which is incurred to refund such an
obligation, the powers of the counties and municipalities to impose and
distribute the tax imposed by this paragraph (5) shall not be diminished or
impaired by the state and no county or municipality levying the tax imposed by
this paragraph shall cease to levy the tax in any manner that will impair the
interest and rights of the holders of any such obligation. This proviso shall
be for the benefit of the holder of any such obligation and, upon the issuance
of any such obligation by an authority of the state, shall constitute a contract
with the holder of such
obligations."
SECTION
2.
Said
Code section is further amended by revising paragraph (7) of subsection (a) as
follows:
"(7)
As used in this subsection, the term:
(A)
'Fund' and 'funding'
means
mean
the cost and expense of all things deemed necessary by a state authority for the
construction and operation of a multipurpose domed stadium
and a
successor facility to such multipurpose domed
stadium including but not limited to the
study, operation, marketing, acquisition, construction, finance, development,
extension, enlargement, or improvement of land, waters, property, streets,
highways, buildings, structures, equipment, or facilities, and the repayment of
any obligation incurred by an authority in connection therewith.
(B)
'Obligation' means bonds, notes, or any instrument creating an obligation to pay
or reserve moneys
incurred
prior to January 1, 1991, and having an
initial term of not more than 30 years.
(C)
'Multipurpose domed stadium facility' means a multipurpose domed stadium
facility and any associated parking areas or improvements originally owned or
operated incident to the ownership or operation of a facility used for
convention and trade show purposes by the state, a department or agency of the
state, a state authority, or a combination thereof."
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.